Credit Repair

http://www.mortgagesaver.org/free-credit-repair-guide-score-boosting-tips.htm#Credit-Repair
Credit repair can not guarantee the removal of negative items from your credit report. The law
does allow you to request a reinvestigation of credit information in your credit report that you
dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic
can do for you legally, you can do for yourself at little or no cost.
We allow you to ask credit questions in our credit repair forum.
Fair Credit Reporting Act:
You are entitled to a free copy of your credit report if youve !een denied credit, insurance or
employment within the last "# days. $f your application for credit, insurance, or employment is
denied !ecause of information supplied !y a credit !ureau, the company you applied to must
provide you with that credit !ureaus name, address, and telephone num!er.
You can dispute mistakes or outdated credit items for free. %sk the credit reporting agency for
a dispute form or su!mit your dispute in writing, along with any supporting documentation. &o
not send them original documents.
Clearly identify each item in your report that you dispute, e'plain why you dispute the
information, and request a reinvestigation. $f the new investigation reveals an error, you may
ask that a corrected version of the report !e sent to anyone who received your report within the
past si' months. (o! applicants can have corrected reports sent to anyone who received a report
for employment purposes during the past two years.
When the credit reinvestigation is complete, the credit !ureau must give you the written results
and a free copy of your credit report if the dispute results in a change. $f an item is changed or
removed, the credit !ureau cannot put the disputed information !ack in your file unless the
information provider verifies its accuracy and completeness, and the credit !ureau gives you a
written notice that includes the name, address, and phone num!er of the provider.
You also should tell the creditor or other information provider in writing that you dispute an
item. )any providers specify an address for disputes. $f the provider then reports the item to
any credit !ureau, it must include a notice of your dispute. $n addition, if you are correct*that is,
if the information is inaccurate*the information provider may not use it again.
$f the reinvestigation does not resolve your credit dispute, have the credit !ureau include your
version of the dispute in your file and in future reports.
The Credit Repair Organiations Act
Credit repair companies must give you a copy of the +Consumer Credit ,ile -ights .nder /tate
and ,ederal 0aw1 !efore you sign a credit repair contract. They also must give you a written
contract that spells out your rights and o!ligations. -ead these documents !efore you sign
anything. The law contains specific protections for you. ,or e'ample, a credit repair company
cannot2
)ake false claims a!out their credit repair services
Charge you until they have completed the promised services
3erform any services until they have your signature on a written contract and have completed
a three*day waiting period. &uring this time, you can cancel the credit repair contract without
paying any fees
Your contract must specify2
3ayment terms for services, including their total cost
% detailed description of the services to !e performed
4ow long it will take to achieve the results
%ny credit repair guarantees they offer
The company5s name and !usiness address
Credit Repair Tips
What does my credit fico score6credit report say7 % credit report rating is a measure of your
credit worthiness. $ts a ranking !ased on your history of timely payments and how responsi!ly
youve managed credit in the past. Credit 8ureaus use your financial payment history to
determine your credit rating.
We have helped thousands of customers re*esta!lish there credit with our free credit repair
advice. We would like to help you understand the importance of good personal credit score and
what you can do to maintain a solid credit report rating.
)ortgage lenders like to see a credit score of "9#. 4owever if you can get your ,$C: score up to
;## you will receive the !est interest rates in the market place and you will never have to worry
a!out credit repair.
The !est way to esta!lish or re*esta!lish your credit report is with a secured credit card.
% secured credit card is an account where the security deposit you provide is equal to the credit
limit of your credit card. %fter <9 to <= months of timely payments you may !e eligi!le for an
unsecured credit card.
Free Credit Repair Advice
3ay what you owe2 3ay at least your >total minimum due> !y the due date on your monthly
statement to keep your credit report in good standing.
&ont skip any credit card payments2 Try to pay more than the minimum, or even the whole
!alance, each month. ?ew spending and carry*over !alances com!ine to increase the amount of
your average daily !alance * and the finance charges you will owe. You can decrease this
e'pense !y paying down your credit card !alances as much as possi!le each month.
&o not e'ceed your approved credit limit. Your >availa!le credit> is how much credit you have
left @your >credit limit> minus your >:utstanding 8alance>A. 8e careful to keep your spending
!elow this credit limit.
$deally you should keep your credit !alance at least B#C !elow your credit limit.
8e sure to add any charges you made after your monthly statements closing date to your
>outstanding credit !alance.>
)ake timely credit payments 3ay attention to the >mail !y> dates for !ills so that they arrive on
time. We recommend that you mail your payment a week !efore the due date. You can !e
charged additional fees if its late.
$f you have trou!le mailing !ills on time set up a automatic minimum payment from your
checking account.
$f you are moving, fill out the change of address form to ensure that your credit statements goes
to your new correct address. You are responsi!le for your !alance even if your statement goes
to the previous address.
What does a good credit rating mean7 % good credit rating indicates to others that you are a
>good> credit risk. You manage your de!ts responsi!ly and are likely to pay !ack what you have
!orrowed. The longer your credit rating remains un!lemished, the more confident others will !e
in lending to you. 4aving great credit also allows you to qualify for the !est loan programs and
lowest mortgage interest rates.
Why should you maintain great credit report score7 You may need good credit for such routine
matters as having the utilities connected to your home.
% good credit report score is important to secure financing when !uying furniture, a computer,
a car, or even a new home.
Employers often check the credit rating of prospective employees. % solid credit rating reflects
positively on your a!ility to manage your Do! responsi!ly.
-enting an apartment may !e easier. % good credit score tells landlords that you are a person
whos more likely to pay the rent on time each month.
You may !e eligi!le to receive loans for college education.
$f you need access to large sums of money, !anks may look more favora!ly upon giving you the
loan you need.
/trong credit references can open a world of financial opportunity. /omeday you may want to
use credit to finance a !usiness.
What if $ have !ad credit or no credit report7 You should start !uilding credit with a secured
credit card.
$f $ have !ad credit can $ still get a mortgage7 Yes we have many !ad credit mortgage and !ad
credit refinance programs.
!amp"e Credit Repair #etter
&ate
Your ?ame
Your %ddress, City, /tate, Eip Code
Complaint &epartment
?ame of Company
%ddress
City, /tate, Eip Code
-E2
&ear /ir or )adam2
$ am writing to dispute the following information in my credit report file. $ have circled the items
$ dispute on the attached copy of the report $ received.
This item @identify item@sA disputed !y name of source, such as creditors or ta' court, and
identify type of item, such as credit account, Dudgment, etc.A is @inaccurate or incompleteA
!ecause @descri!e what is inaccurate or incomplete and whyA. $ am requesting that the item !e
removed @or request another specific changeA to correct the information.
Enclosed are copies of @use this sentence if applica!le and descri!e any enclosed documentation,
such as payment records, court documentsA supporting my position. 3lease reinvestigate this
@theseA matter@sA and @delete or correctA the disputed item@sA as soon as possi!le.
/incerely,
Your name
Enclosures2 @0ist what you are enclosing.A
Why should I check my credit?
Whenever you apply for a loan, a job, or an apartment, your credit comes under scrutiny.
Your credit history and credit score are used by lenders to assess the amount of risk you
represent. Lower credit scores or adverse credit history will result in higher interest rates
that can cost you thousands of dollars in the long run. That is why improving your credit
is so important.
Checking your credit report is the first step. ometimes a small mistake can linger on
your credit report and continue costing you money for years. !or e"ample, if you change
addresses and a bill does not get forwarded to you, or if a vendor makes a mistake in
processing a payment, it may remain on your record as delin#uent. $ccording to a %
&ublic 'nterest (roup )eport, as many as *+, of credit reports have errors on them.
What is credit monitoring?
Credit monitoring is a service in which an authori-ed agency notifies you whenever an
update is made to your credit report, such as the opening or closing of an account, a
change in address, or the processing of a loan payment. 't.s a great way to keep track of
your credit standing. 't.s also one of the only ways to catch identity theft early, before any
serious damage is done. 'dentity theft is the fastest/growing crime nationwide, affecting
an estimated 0+ million $mericans last year alone.
How can I improve my credit score?
)educe your debt/to/credit ratio. $void leaving your account balances near the
ma"imum credit limit, even if you can do so and still remain well within your
budget. Credit bureaus interpret this as a sign that you are borrowing almost as
much as you can handle, which they assume makes you a higher risk. $ good
rule of thumb is to keep your balances below 1+, of your credit limit.
Correct errors in your report. These are surprisingly common. $ utility company
or lender could mistakenly report one of your payments as late, which could
adversely affect your credit rating until you correct it. 2e advised that correcting
an error can take as long as 3+ days, so it helps to monitor your credit report and
fi" mistakes early.
4ake all your payments on time. This is particularly important in the months
before you plan to apply for a loan or job when an employer might check your
credit report. Why5 $ recent late payment will affect your score more than, say, a
late payment from several years ago.
Consider leaving old accounts open, even if you don.t use them much anymore.
The length of your credit history / how long you.ve been borrowing / is a factor in
your credit score, so it pays to keep these accounts alive. $lso, closing an
account will reduce the total amount you can borrow, which increases your debt/
to/credit ratio.
&ay off debt rather than shuffling it between accounts. %nless you are severely
behind in debt and are taking steps to resolve it, closing some of your accounts
will adversely affect your debt/to/credit ratio.
How can I protect myself from identity theft?
hred or tear up the 6pre/approved6 credit card offers you get in the mail. $
common tactic among identity thieves is to raid trash sites and fill out these offers
in your name.
7on.t print your social security number on your driver.s license or personal
checks, and don.t give it out unless it.s absolutely necessary.
4onitor your credit by obtaining your credit report, preferably a consolidated 8/in/
0 report with information from all 8 bureaus.
Consider enrolling in a credit monitoring service that alerts you of possible
suspicious activity.
Should I use a Credit Repair agency?
7espite their great claims to eliminate your negative records or improve your credit score
in a short time, credit counseling agencies, credit repair companies, and debt
consolidation agencies can be severely damaging to your credit, and your wallet. The
business of credit counseling is worth an estimated * billion dollars a year. These
companies can charge you on a percentage of your debt or demand a large setup fee. 'f
you are seeking credit counseling, odds are that you.d rather apply that money directly
toward paying off the debt itself. 2e sure to consult the fine print and know what kind of
payment basis you are committing to.
2ear in mind that when a credit repair agency steps in to mediate between you and your
creditors, you will still be held fully responsible for your outstanding debt. $n unethical
but common practice of credit repair agencies is to keep your first round of late
payments for themselves. This may create or add to a record of late payments that can
remain on your credit report for several years. 'f you decide to work with an agency, it.s
wise to periodically check your credit report to make sure that payments are being made
on time.
What many people don.t reali-e is that you have the power to do for yourself all the
things that a credit repair agency can do for you. You can negotiate a payment plan
directly with your creditors, reduce your debt, and improve your own credit score or get
your finances back on track. The money that you would spend for the assistance of an
agency can be used to pay down your debt. 'f you are trying to remove erroneous
negative information from your credit report, see the section below on disputing errors.
Building Your Credit History
9ven if you don.t think your credit history is good, or if you don.t think you have any at all,
consider checking your credit report to find out just where you stand. You might be
surprised. 'f you notice negative information on your report, confirm that that information
is accurate. 4ost derogatory information, such as a loan payment that was 0:+ days
late, must remain on your credit report for at least * years. ;owever, if a negative record
is not accurate, be sure to send a letter of dispute to the credit bureau that reported the
error. ee the section below on disputing errors. The ne"t step in building or rebuilding
your credit history is to get a credit card. You may have to start with a secured credit
card, in which a savings account is used as collateral for your credit. $lso consider
special/interest cards that are oriented to your purchasing habits, such as a gas card or
department store credit card. <o matter what card you decide to get, be sure to read the
fine print and watch for high $&) rates, setup fees, annual fees, and short grace
periods. 2e sure to use your new card responsibly and make all your payments on time.
isputing !rrors on Your Credit Report
When you check your credit report or account statements from financial institutions and
notice suspicious or inaccurate information, you should first try to contact the creditor or
company responsible for the inaccuracy. Their contact information will appear in your
credit report. 4inor errors can often be corrected over the phone. 'f this is unsuccessful,
or you wish to dispute the information with the credit bureau that has reported it, it must
be done in writing, either online or by mail. end them a brief letter describing the error,
and include a copy of your credit report with the error=s> highlighted. $lso include any
documentation you have that proves your position =for e"ample, that you have paid an
account that is marked on your report as delin#uent>. 2e sure to include your full name,
date of birth, social security number, mailing address, the name and of the creditor you
have a dispute with, and your reason=s> for the dispute. end the letter by certified mail
and keep a copy for your records. 2y law, the credit bureaus are re#uired to investigate
your claim. ;owever, they will not necessarily find that the item is an error.
Equifax, Experian and Trans Union
http://www.ftc.gov/bcp/conline/pubs/credit/repair.htm
Credit Repair" Self Help #ay Be Best
You see the advertisements in newspapers, on T?, and on the 'nternet. You hear them
on the radio. You get fliers in the mail. You may even get calls from telemarketers
offering credit repair services. They all make the same claims@
ACredit problems5 <o problemBC
AWe can erase your bad credit D 0++, guaranteed.C
ACreate a new credit identity D legally.C
AWe can remove bankruptcies, judgments, liens, and bad loans from your credit file
foreverBC
7o yourself a favor and save some money, too. 7onEt believe these statements. Fnly
time, a conscious effort, and a personal debt repayment plan will improve your credit
report.
This brochure e"plains how you can improve your creditworthiness and gives legitimate
resources for low or no/cost help.
$he Scam
9veryday, companies nationwide appeal to consumers with poor credit histories. They
promise, for a fee, to clean up your credit report so you can get a car loan, a home
mortgage, insurance, or even a job. The truth is, they canEt deliver. $fter you pay them
hundreds or thousands of dollars in fees, these companies do nothing to improve your
credit reportG most simply vanish with your money.
$he Warning Signs
'f you decide to respond to a credit repair offer, look for these tell/tale signs of a scam@
companies that want you to pay for credit repair services before they provide any
services.
companies that do not tell you your legal rights and what you can do for yourself for
free.
companies that recommend that you not contact a credit reporting company directly.
companies that suggest that you try to invent a AnewC credit identity D and then, a new
credit report D by applying for an 9mployer 'dentification <umber to use instead of
your ocial ecurity number.
companies that advise you to dispute all information in your credit report or take any
action that seems illegal, like creating a new credit identity. 'f you follow illegal advice
and commit fraud, you may be subject to prosecution.
You could be charged and prosecuted for mail or wire fraud if you use the mail or
telephone to apply for credit and provide false information. 'tEs a federal crime to lie on a
loan or credit application, to misrepresent your ocial ecurity number, and to obtain an
9mployer 'dentification <umber from the 'nternal )evenue ervice under false
pretenses.
%nder the Credit )epair Frgani-ations $ct, credit repair companies cannot re#uire you to
pay until they have completed the services they have promised.
$he $ruth
<o one can legally remove accurate and timely negative information from a credit report.
The law allows you to ask for an investigation of information in your file that you dispute
as inaccurate or incomplete. There is no charge for this. 9verything a credit repair clinic
can do for you legally, you can do for yourself at little or no cost. $ccording to the !air
Credit )eporting $ct =!C)$>@
YouEre entitled to a free report if a company takes adverse action against you, like
denying your application for credit, insurance, or employment, and you ask for your
report within H+ days of receiving notice of the action. The notice will give you the
name, address, and phone number of the consumer reporting company. YouEre also
entitled to one free report a year if youEre unemployed and plan to look for a job within
H+ daysG if youEre on welfareG or if your report is inaccurate because of fraud, including
identity theft.
9ach of the nationwide consumer reporting companies D 9#uifa", 9"perian, and
Trans%nion D is re#uired to provide you with a free copy of your credit report, at your
re#uest, once every 0I months.
The three companies have set up a central website, a toll/free telephone number, and
a mailing address through which you can order your free annual report. To order, click
on annualcreditreport.com, call 0/:**/8II/:II:, or complete the $nnual Credit )eport
)e#uest !orm and mail it to@ $nnual Credit )eport )e#uest ervice, &.F. 2o" 0+1I:0,
$tlanta, ($ 8+8J:/1I:0. You can print the form from ftc.govKcredit. 7o not contact the
three nationwide consumer reporting companies individually. They are providing free
annual credit reports only through annualcreditreport.com, 0/:**/8II/:II:, and
$nnual Credit )eport )e#uest ervice, &.F. 2o" 0+1I:0, $tlanta, ($ 8+8J:/1I:0.
You may order your reports from each of the three nationwide consumer reporting
companies at the same time, or you can order your report from each of the companies
one at a time. !or more information, see Your $ccess to !ree Credit )eports at
ftc.govKcredit.
Ftherwise, a consumer reporting company may charge you up to L3.1+ for another
copy of your report within a 0I/month period.
You can dispute mistakes or outdated items for free. %nder the !C)$, both the
consumer reporting company and the information provider =that is, the person,
company, or organi-ation that provides information about you to a consumer reporting
company> are responsible for correcting inaccurate or incomplete information in your
report. To take advantage of all your rights under this law, contact the consumer
reporting company and the information provider.
S$!% &'!
Tell the consumer reporting company, in writing, what information you think is inaccurate.
'nclude copies =<FT originals> of documents that support your position. 'n addition to
providing your complete name and address, your letter should clearly identify each item
in your report you dispute, state the facts and e"plain why you dispute the information,
and re#uest that it be removed or corrected. You may want to enclose a copy of your
report with the items in #uestion circled. Your letter may look something like the one on
page H. end your letter by certified mail, Areturn receipt re#uested,C so you can
document what the consumer reporting company received. Meep copies of your dispute
letter and enclosures.
Consumer reporting companies must investigate the items in #uestion D usually within
8+ days D unless they consider your dispute frivolous. They also must forward all the
relevant data you provide about the inaccuracy to the organi-ation that provided the
information. $fter the information provider receives notice of a dispute from the consumer
reporting company, it must investigate, review the relevant information, and report the
results back to the consumer reporting company. 'f the information provider finds the
disputed information is inaccurate, it must notify all three nationwide consumer reporting
companies so they can correct the information in your file.
When the investigation is complete, the consumer reporting company must give you the
results in writing and a free copy of your report if the dispute results in a change. 'f an
item is changed or deleted, the consumer reporting company cannot put the disputed
information back in your file unless the information provider verifies that it is accurate and
complete. The consumer reporting company also must send you written notice that
includes the name, address, and phone number of the information provider.
'f you re#uest, the consumer reporting company must send notices of any correction to
anyone who received your report in the past si" months. You can have a corrected copy
of your report sent to anyone who received a copy during the past two years for
employment purposes.
'f an investigation doesnEt resolve your dispute with the consumer reporting company,
you can ask that a statement of the dispute be included in your file and in future reports.
You also can ask the consumer reporting company to provide your statement to anyone
who received a copy of your report in the recent past. You can e"pect to pay a fee for this
service.
S$!% $W&
Tell the creditor or other information provider, in writing, that you dispute an item. 2e sure
to include copies =<FT originals> of documents that support your position. 4any
providers specify an address for disputes. 'f the provider reports the item to a consumer
reporting company, it must include a notice of your dispute. $nd if you are correct N that
is, if the information is found to be inaccurate N the information provider may not report it
again.
!or more information, see ;ow to 7ispute Credit )eport 9rrors at ftc.govKcredit.
Reporting (ccurate 'egative Information
When negative information in your report is accurate, only the passage of time can
assure its removal. $ consumer reporting company can report most accurate negative
information for seven years and bankruptcy information for 0+ years. 'nformation about
an unpaid judgment against you can be reported for seven years or until the statute of
limitations runs out, whichever is longer. There is no time limit on reporting@ information
about criminal convictionsG information reported in response to your application for a job
that pays more than L*1,+++ a yearG and information reported because youEve applied for
more than L01+,+++ worth of credit or life insurance. There is a standard method for
calculating the seven/year reporting period. (enerally, the period runs from the date that
the event took place.
!or more information, see 2uilding a 2etter Credit )eport at ftc.govKcredit.
$he Credit Repair &rgani)ations (ct
2y law, credit repair organi-ations must give you a copy of the AConsumer Credit !ile
)ights %nder tate and !ederal LawC before you sign a contract. They also must give
you a written contract that spells out your rights and obligations. )ead these documents
before you sign anything. The law contains specific protections for you. !or e"ample, a
credit repair company cannot@
make false claims about their services
charge you until they have completed the promised services
perform any services until they have your signature on a written contract and have
completed a three/day waiting period. 7uring this time, you can cancel the contract
without paying any fees
Your contract must specify@
the payment terms for services, including their total cost
a detailed description of the services to be performed
how long it will take to achieve the results
any guarantees they offer
the companyEs name and business address
Have You Been *ictimi)ed?
4any states have laws regulating credit repair companies. tate law enforcement
officials may be helpful if youEve lost money to credit repair scams.
'f youEve had a problem with a credit repair company, donEt be embarrassed to report it.
While you may fear that contacting the government will only make your problems worse,
remember that laws are in place to protect you. Contact your local consumer affairs office
or your state $ttorney (eneral =$(s>. 4any $(s have toll/free consumer hotlines. Check
the 2lue &ages of your telephone directory for the phone number or check www.naag.org
for a list of state $ttorneys (eneral.
'eed Help? on+t espair
Oust because you have a poor credit report doesnEt mean you wonEt be able to get credit.
Creditors set their own credit/granting standards and not all of them look at your credit
history the same way. ome may look only at more recent years to evaluate you for
credit, and they may grant credit if your bill/paying history has improved. 't may be
worthwhile to contact creditors informally to discuss their credit standards.
'f youEre not disciplined enough to create a workable budget and stick to it, work out a
repayment plan with your creditors, or keep track of mounting bills, consider contacting a
credit counseling organi-ation. 4any credit counseling organi-ations are nonprofit and
work with you to solve your financial problems. 2ut not all are reputable. !or e"ample,
just because an organi-ation says itEs Anonprofit,C thereEs no guarantee that its services
are free, affordable, or even legitimate. 'n fact, some credit counseling organi-ations
charge high fees, or hide their fees by pressuring consumers to make AvoluntaryC
contributions that only cause more debt.
4ost credit counselors offer services through local offices, the 'nternet, or on the
telephone. 'f possible, find an organi-ation that offers in/person counseling. 4any
universities, military bases, credit unions, housing authorities, and branches of the %..
Cooperative 9"tension ervice operate nonprofit credit counseling programs. Your
financial institution, local consumer protection agency, and friends and family also may
be good sources of information and referrals.
'f you are considering filing for bankruptcy, you should know about one major change to
the bankruptcy laws@ $s of Fctober 0*, I++1, you must get credit counseling from a
government/approved organi-ation within si" months before you file for bankruptcy relief.
You can find a state/by/state list of government/approved organi-ations at
www.usdoj.govKust. That is the website of the %.. Trustee &rogram, the organi-ation
within the %.. 7epartment of Oustice that supervises bankruptcy cases and trustees.
)eputable credit counseling organi-ations can advise you on managing your money and
debts, help you develop a budget, and offer free educational materials and workshops.
Their counselors are certified and trained in the areas of consumer credit, money and
debt management, and budgeting. Counselors discuss your entire financial situation with
you, and help you develop a personali-ed plan to solve your money problems. $n initial
counseling session typically lasts an hour, with an offer of follow/up sessions.
!or more information, see Mnee 7eep in 7ebt and !iscal !itness@ Choosing a Credit
Counselor at ftc.govKcredit.
o,It,Yourself Check,-p
9ven if you donEt have a poor credit history, some financial advisors and consumer
advocates suggest you review your credit report periodically
because the information it contains affects whether you can get a loan or insurance D
and how much you will have to pay for it.
to make sure the information is accurate, complete, and up/to/date before you apply
for a loan for a major purchase like a house or car, buy insurance, or apply for a job.
to help guard against identity theft. ThatEs when someone uses your personal
information D like your name, your ocial ecurity number, or your credit card number
D to commit fraud. 'dentity thieves may use your information to open a new credit card
account in your name. Then, when they donEt pay the bills, the delin#uent account is
reported on your credit report. 'naccurate information like that could affect your ability
to get credit, insurance, or even a job.
Sample ispute .etter
7ate
Your <ame
Your $ddress
Your City, tate, Pip Code
Complaint 7epartment
<ame of Company
$ddress
City, tate, Pip Code
7ear ir or 4adam@
' am writing to dispute the following information in my file. The items ' dispute also are
encircled on the attached copy of the report ' received.
This item =identify item=s> disputed by name of source, such as creditors or ta" court, and
identify type of item, such as credit account, judgment, etc.> is =inaccurate or incomplete>
because =describe what is inaccurate or incomplete and why>. ' am re#uesting that the
item be deleted =or re#uest another specific change> to correct the information.
9nclosed are copies of =use this sentence if applicable and describe any enclosed
documentation, such as payment records, court documents> supporting my position.
&lease investigate this =these> matter=s> and =delete or correct> the disputed item=s> as
soon as possible.
incerely,
Your name
9nclosures@ =List what you are enclosing>
The !TC works for the consumer to prevent fraudulent, deceptive and unfair business
practices in the marketplace and to provide information to help consumers spot, stop,
and avoid them. To file a complaint or to get free information on consumer issues, visit
www.ftc.gov or call toll/free, 0/:**/!TC/;9L& =0/:**/8:I/J81*>G TTY@ 0/:HH/H18/JIH0.
The !TC enters 'nternet, telemarketing, identity theft, and other fraud/related complaints
into Consumer entinel, a secure, online database available to hundreds of civil and
criminal law enforcement agencies in the %.. and abroad.
http://web.e$tension.uiuc.edu/%ac&son/news/news'().htm"
Ca""* +on,t C"ic& for Free Credit Reports-
FOR .//0+.AT0 R0#0A!0
Apri" ((* 122)
$t was supposed to !e easy for the consumerF The plan was in placeGpeople who wanted
to get a free copy of their credit report could log onto a we! site to order it. Consumers
flocked to the we! site https://www.Annua"CreditReport.com,8.Tso did the
impostersF
>/ome H= imposter we! sites have !een discovered,> says 0ois /mith, .niversity of
$llinois E'tension consumer and family economics educator. >?ow the same consumer
groups that touted using the we! site are reversing their recommendations and
encouraging consumers to go !ack to the old methods of getting information. They
suggest that you phone or send your request !y mail.>
Addresses and phone numbers for the three credit bureaus are:
03uifa$
3. :. 8o' <#B=;I
%tlanta, J% I#IK=
=##*"=B*<<<< or =##*HH;*9KHI
0$perian
Consumer %ssistance
3.:. 8o' 9<#K
%llan, TL ;B#<I*9<#K
=##*"=9*;"BK or ===*IH;*I;K9
Trans 4nion ##C
Consumer &isclosure Center
3.:. 8o' <###
Chester, 3% <H#99
=##*===*K9<I
/mith offers these tips for safeguarding your personal information2
When requesting your free credit report, ask that only the last four digits of your
/ocial /ecurity num!er !e displayed on the reports to !e mailed to you.
4ave the report mailed to a secure mail!o'.
:rder a free credit report every four months. :rder one from each of the three
credit !ureaus. @Youre entitled to one free credit report from each of them once a
year.A That way, you can regularly monitor activity on your credit reports and
watch for fraudulent accounts and other suspicious activity.
http266www.eminenthomeloans.com6creditM!ureausM;HK.htm
Credit Bureaus
There are three main credit bureaus that your creditors provide information to on a monthly basis. Your score is
based on a comple" formula each bureau uses to determine your financial risk.
You may dispute items on your credit reports through the three major credit bureaus. The disputes may initiated
by writing a letter or by going to the websites of the bureaus that are listed here. 2y law the bureaus have 8+
days in which to resolve your dispute.
ometimes credit bureaus can report inaccurate information about you. 't is important to resolve these issues
since they may hurt you in the loan process. You should talk with your broker about any inaccurate information or
contact the three major credit bureaus.
9#uifa" Credit 2ureau
&.F. 2o" *J+IJ0
$tlanta ($ 8+8*J/+IJ0
=:++> H:1/0000
http@KKwww.e#uifa".com
9"perian =!ormerly T)W Credit 2ureau>
&.F. 2o" 3J3
$llen TQ *1+08/+3J3
=:::> 83*/8*JI
http@KKwww.e"perian.com
Trans %nion Corporation =Credit 2ureau>
Consumer 7isclosure Center
&.F. 2o" 83+
pringfield &$ 03+HJ/+83+
=:++> 30H/::++
=:++> H:I/*H1J
=*0J> H:+/*I3I
http@KKwww.tuc.com
9veryone should periodically review what.s on their credit reports. 't.s a good way to monitor if they contain any
errors and more importantly, to guard against identity theft.
Credit bureaus are generally regulated by the !air Credit )eporting $ct =!C)$>, which is the !ederal law
generally covering credit bureaus and credit reporting in this country. 'ndividual states may also have their own
versions of the law.
The Credit 2ureaus make more money off of you with bad credit than good credit and they get fined every day by
the !TC for their illegal tactics. 7on.t let them push you aroundB 6?9)'!'976 does not always mean 6?9)'!'976
The 8 main credit bureaus are@
9"perian
Trans %nion
9#uifa"
They come up with a numerical score typically in a range of 81+/:1+, the higher the score the better 6#ualified6
you are to handle credit and the likelihood of getting a loan with decent rates.